“With the MIA Integral in hand, the company now has all the environmental approvals required to develop and operate Media Luna,” chief executive Jody Kuzenko said in the statement.
Torex has also received approval to increase the power draw at site to 45 megawatts and said that discussions with the utility authorities to further increase the power draw to 65 MW, required to sustainably deliver full production at Media Luna, are ongoing.
The Toronto-based company is also in talks with local authorities regarding future in-pit tailings deposition and expanding the exploration boundaries.
Don Demarco, mining analyst at National Bank of Canada, said receiving the government’s endorsement well in advance of first pour at the project, in 2024, represented an “incremental development de-risking.”
Media Luna, Demarco noted, is now fully permitted with environmental requirements on both sides of the Balsas River consolidated…
